COHR vs GLQ: Correlation
How closely do Coherent Corp. (COHR) and Clough Global Equity Fund (GLQ) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COHR and GLQ?
On 3 years of weekly data the COHR/GLQ correlation comes out at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.62 over 3 years. The 5-year figure is 0.53, and annualized covariance runs at 665.4 %².
Among the 41 assets we track against COHR, GLQ ranks #9 by 3-year correlation. The last year tells two different stories: COHR led by 204.0 percentage points, +225.6% for COHR against +21.6% for GLQ. Note the risk asymmetry: COHR runs 3.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
COHR vs GLQ: side by side
| COHR (Coherent Corp.) | GLQ (Clough Global Equity Fund) | |
|---|---|---|
| 1-year return | +225.6% | +21.6% |
| 5-year return | +368.6% | -3.8% |
| Volatility (ann.) | 65.0% | 16.6% |
| Beta vs S&P 500 | 2.76 | 1.00 |
| Max drawdown (3Y) | -54.8% | -19.2% |
| Market cap | $57.8B | – |
| P/E (trailing) | 71.4 | 2.7 |
| Dividend yield | 0.00% | 9.99% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | COHR | GLQ |
|---|---|---|
| 2022 | -48.6% | -42.3% |
| 2023 | +24.0% | +2.8% |
| 2024 | +117.6% | +25.2% |
| 2025 | +94.8% | +28.5% |
| 2026 | +60.0% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COHR and GLQ good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between COHR and GLQ?
As of 2026-08-27, the correlation of weekly returns between COHR and GLQ is 0.62 over 3 years, 0.41 over 1 year and 0.53 over 5 years.
Is GLQ a good diversifier for COHR?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cohr-vs-glq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cohr-vs-glq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COHR correlations · GLQ correlations
